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Asia shares extend losses, Chinese shares hover around 5-year lows
03:59
Asia Pacific
Asia shares extend losses, Chinese shares hover around 5-year lows
Hong Kong shares are extending their sell-off, and Chinese shares are hovering around 5-year lows. This is also fuelled by a poor performance on Wall Street, after a strong December sales report, showing robust consumer spending. Investors worry that this could mean fewer rate cuts this year than what they had expected - pricing in a roughly 56% chance of a quarter percentage point rate cut in March. Wall Street was all in the red yesterday, and so is Asia today apart from Hong Kong stocks and Chinese stocks slightly rebounding.
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